Private Practice Owners Club

What if I told you that if you focused on one thing, it would return you over $100,000 per year, would you be interested? Heidi and I continue our conversation about the current state of the PT industry and business ownership, and delve specifically into this topic. PT owners are losing money, over $100k per year, because they and their PTs aren’t getting patient buy-in to PT services. WebPT’s report showed that 90% of patients aren’t completing their Plan of Care. Improving that one thing, if focused on with every provider in your clinic, will immediately make an impact on you and your patients. Imagine the benefits – improved outcomes, improved reputation, improved referrals/word of mouth, improved financials, etc. What would you do with an extra $100k this year? Shoot me an email with your response and I’ll send you a gift! Love the show? Subscribe, rate, review, and share!Here’s How »Join the Physical Therapy Owners Club today:ptoclub.comPhysical Therapy Owners Club FacebookPhysical Therapy Owners Club LinkedInPhysical Therapy Owners Club Twitter

As one of the progressive leaders in our industry, Heidi Jannenga, PT, DPT, ATC, and her group at WebPT decided to get the pulse of the PT industry by surveying over 7000 rehab professionals across the country. The report, “The State of Rehab Therapy in 2018,” provides some important information regarding the current PT climate and, specifically, regarding PT business ownership. We discuss the aspects of the report pertinent to PT owners, and in this episode that topic is the fact that PT owners lack marketing and growth strategies! Focusing solely on physician referrals is not a recipe for growth. There’s so much more business out there! Love the show? Subscribe, rate, review, and share!Here’s How »Join the Physical Therapy Owners Club today:ptoclub.comPhysical Therapy Owners Club FacebookPhysical Therapy Owners Club LinkedInPhysical Therapy Owners Club Twitter

Many physical therapists who decide to convert into business and private practice usually dive in immediately without taking into consideration the processes that it entails. One thing they commonly overlook is the financial aspect, and this often leads them to losing. Known as “The Financial Prosperity Coach,” Christopher Music shares some of the common issues among physically therapy owners financially speaking. Christopher observes that they are often blinded by that search for success that they fail to recognize that being a business owner means having to turn over your being a physical therapist cap. He lays down some issues they will have to face such as staffing and engaging with CPAs and book keepers, and imparts the importance of financial education above all. Love the show? Subscribe, rate, review, and share!Here’s How »Join the Physical Therapy Owners Club today:ptoclub.comPhysical Therapy Owners Club FacebookPhysical Therapy Owners Club LinkedInPhysical Therapy Owners Club Twitter

Contrary to the belief of less is more, in business, having more people means getting many of the tasks done in no time. This was my constant refrain in the beginning stages of PT business ownership, “I love doing the PT, I just hate running the business!” That all changed when I started hiring the right people. In this episode, Dr. Jamey Schrier shares how to hire “A” players onto your team, because when you do that, you will obtain stability and freedom. The right people in the right positions will take your business to levels that you cannot take it by yourself. As Jamey shares through his process, by hiring the right people and empowering them, your business will grow and be positively affected for years. He also talks about the importance of coaching and networking when it comes to figuring out your business while giving a peek into his book, The Practice Freedom Method. Love the show? Subscribe, rate, review, and share!Here’s How »Join the Physical Therapy Owners Club today:ptoclub.comPhysical Therapy Owners Club FacebookPhysical Therapy Owners Club LinkedInPhysical Therapy Owners Club Twitter

What is your plan for the future? Do you want to stay owner or are you for sale and want to cash out at some time? There are a number of different options, but it also includes making sure that your financial and legal affairs are in order. It’s a seller’s market. If you don’t know, there is a lot of activity in the physical therapy space for mergers and acquisitions. With the current sellers’ market, it’s important to know if you want to sell and if you are prepared to sell. John Dearing lists nine tips for preparing your business mentally, financially, and organizationally for sale. John is the managing director at Capstone Strategic, a leading consulting firm specializing in privately held not for sale acquisitions for the middle market. If you don’t have everything organized and prepared it could take up to six months to do so, and another six months to two years after that to see the transaction go through. Even if you don’t want to sell, going through the steps that John mentions will make your business more stable, sound, prepared for growth, and provide you clarity on what you really want out of your business. Love the show? Subscribe, rate, review, and share!Here’s How »Join the Physical Therapy Owners Club today:ptoclub.comPhysical Therapy Owners Club FacebookPhysical Therapy Owners Club LinkedInPhysical Therapy Owners Club Twitter

The famous quote often attributed to thought leader Peter Drucker goes, “Culture eats strategy for breakfast.” It is often agreed that how we do things is more important than how well we do them. In other words, it is often agreed that culture is more important than strategy. But do we really put that into practice? How much effort are you placing on your company’s culture? Simply put, culture is the way we do things. It is less about what we want to achieve and more about who we are. Putting a focus on it will go a long way. Will Humphreys shares what has been done at Rise Rehab to improve our culture and how it’s helped in hiring the right people, letting go of the wrong people, and create a productive and meaningful organization that people love to work for. Love the show? Subscribe, rate, review, and share!Here’s How »Join the Physical Therapy Owners Club today:ptoclub.comPhysical Therapy Owners Club FacebookPhysical Therapy Owners Club LinkedInPhysical Therapy Owners Club Twitter

Most practice owners don’t have a written business plan and written budgets. They may be looking at numbers but they don’t concretely set targets like they do for the patients that they treat. Chuck Felder of HCS Consulting says it’s important to create business plans and budgets to keep you and your team rowing in the same direction, having that alignment, teamwork, and cooperative mindset. How can they make decisions and focus their time if they don’t know what the goals of the company are and how they fit into it? Simple plans and goals keep you unified and maintaining proper budgets gives you the power to actually predict your profits in the future. Who wouldn’t want that? Take the time to monitor and follow these three things on a regular basis – KPIs, business plan, and budget – and you’re on your way to maintaining a healthy, successful business. Love the show? Subscribe, rate, review, and share!Here’s How »Join the Physical Therapy Owners Club today:ptoclub.comPhysical Therapy Owners Club FacebookPhysical Therapy Owners Club LinkedInPhysical Therapy Owners Club Twitter

What does your dashboard look like? Not in your car, in your business. KPIs or key performance indicators are the dashboard to tell you how your business is running. Chuck Felder of HCS Consulting breaks down the key metrics for running your clinic and discusses the importance of tracking and monitoring those. Chuck has used his PT and MBA degrees to become an expert in PT business metrics, and shares his wealth of knowledge with us. Compare yours to his or start building and monitoring your own dashboard as Chuck dishes out some great information to share regarding how to manage PT clinics and how to create a strategic plan around how they’re operating.Love the show? Subscribe, rate, review, and share!Here’s How »Join the Physical Therapy Owners Club today:ptoclub.comPhysical Therapy Owners Club FacebookPhysical Therapy Owners Club LinkedInPhysical Therapy Owners Club Twitter

Not a lot of PT clinic owners are focused on what it takes to create a business that is less dependent upon them as owners. Oftentimes, systems and training, coaching, mentoring, or other accountability methods in order to keep PT clinics in check can be overlooked in the midst of the daily hustle and bustle. Here to share his expertise is Sturdy McKee. Sturdy has built a strong, thriving out-of-network PT business in San Francisco that is not completely dependent on him. There was a time that he couldn’t conceptualize that, but it’s what some PT owners dream of. Even if that’s not you, Sturdy has great advice on how to make your business less dependent on you, the owner. His professional growth and the systems he’s implemented have allowed him the time to coach other PTs and business owners. In fact, if you check out his website, www.sturdymckee.com, you’ll see that he shares some great advice – “Hiring A-players”, “New Awesome Intake Form”, “The 3 Magic Questions”, etc. These resources can help you on your path to making your business less dependent on you.   Love the show? Subscribe, rate, review, and share! Here’s How » Join the Physical Therapy Owners Club today: ptoclub.com Physical Therapy Owners Club Facebook Physical Therapy Owners Club LinkedIn

What’s the secret to creating a loyal, returning patients? Hint: It’s not all about the therapy! It’s about the patient experience BEFORE, during, and AFTER they’ve received your care. Neil Trickett, PT and Founder/CEO of Practice Promotions shares the secrets to creating RAVING SUPERFANS. When you create raving superfans then the domino effect begins – patients complete their plans of care and are HAPPY to pay for your services, they return to you when they’re injured or, better yet, they refer family and friends AND PROMOTE YOU TO THEIR DOCTORS, then those patients pay for your services, you grow your foundational patient base, gain a good rep in the community, you build a steady, increasing base of revenue, increase your mailing/emailing list, and the cycle continues!!!! It gets exciting and PTs across the country are thriving this way. Listen to the podcast and you’ll gain insight on what you can do to create the RAVING SUPERFAN.   Love the show? Subscribe, rate, review, and share! Here’s How » Join the Physical Therapy Owners Club today: ptoclub.com Physical Therapy Owners Club Facebook Physical Therapy Owners Club LinkedIn

Jerry Henderson got into physical therapy the same way a lot of physical therapists did, as a patient. Jerry was fourteen years old when he had a skiing accident that fractured his femur and left him hooked on a skeletal traction for about a month and a hip spike for about six weeks. After going through the treatment with a guy who was helping him get mobile again, he understood what physical therapy is all about and knew that’s what he wanted to do. Fast forward years later, Jerry founded Clinicient, a cloud-based EMR software for physical therapy clinics. Clinicient helps their clients on getting up to date on the changes that are coming in the PT space so that they can continue to improve more lives.   Love the show? Subscribe, rate, review, and share! Here’s How » Join the Physical Therapy Owners Club today: ptoclub.com Physical Therapy Owners Club Facebook Physical Therapy Owners Club LinkedIn

A lot of physical therapists don’t consider what it takes to be great businessman or businesswoman and invest the time and energy into that like they did to become good physical therapists. Blaine Stimac is one of the more successful PT owners who has 23 practices across four states and is ranked #255 on the Inc. 5000 list. Blaine’s success is closely related to the systematic way in which he hires and trains his team. Blaine shares that at a minimum, trainings can take up to six to eight weeks, with follow up trainings after that, to create amazing, productive employees right off the bat or weed people out really quickly who are not the right fit. Blaine says growing a business is about the willingness to learn from each one of those times you didn’t do great. You’ve got to be willing to embrace every moment as a learning opportunity.   Love the show? Subscribe, rate, review, and share! Here’s How » Join the Physical Therapy Owners Club today: ptoclub.com Physical Therapy Owners Club Facebook Physical Therapy Owners Club LinkedIn

Dr. Dimitrios Kostopoulos passion for physical therapy is obvious, and his vision is unique and outside-the-box. He has a number of PT businesses and is successful in each one of them, thus he has a unique perspective on the state of physical therapy and the issues negatively impacting PT clinic owners and the profession today. However, he also has the answers to the three issues he presents. Following thru on each of those items will put you on a path to freedom, but if you don’t take the time to study, implement, and do the administrative footwork necessary to run your business, you won’t make it. Dr. Kostopoulos shares that that knowledge on the subject provides a greater responsibility in the area that you are learning something about, and knowledge, responsibility, and control always go together.   Love the show? Subscribe, rate, review, and share! Here’s How » Join the Physical Therapy Owners Club today: ptoclub.com Physical Therapy Owners Club Facebook Physical Therapy Owners Club LinkedIn

Vinod is one of my favorite PT friends – he’s determined, focused, and gets what he wants, which shows in his ability to live in Florida while actively owning his PT practices in New York. He’s the epitome of what we strive for and tout in the Physical Therapy Owners Club. Success? Check. Stability? Check. Freedom? Double check. Having an uncle who is a vascular surgeon that did very well for himself in having his own practice and having the skill set on a physical therapy technique that he felt could create a big impact pushed Vinod Somareddy to exceed himself and be successful as a private practice owner. After listening to the episode, you’ll see what I’m talking about. He ramped up his clinic quickly with the guidance of Measurable Solutions (now Fortis Business Solutions) and learned along the way how to organize his company, hire the right people, and manage by statistics to ensure his company is reaching its goals. Check out his path and what he’s learned along the way by joining the club today.   Love the show? Subscribe, rate, review, and share! Here’s How » Join the Physical Therapy Owners Club today: ptoclub.com Physical Therapy Owners Club Facebook Physical Therapy Owners Club LinkedIn

Shaun Kirk, PT has been consulting physical therapy owners for longer than he’s been a physical therapist. This episode is a must-listen and my interview with Shaun Kirk is one that should be downloaded and replayed by every PT clinic owner and reviewed on a regular basis. Shaun shares from his experience of walking into over 140 clinics across the country to consult them, and having over 2000 PT owners walk through his doors to get trained. He knows his stuff and how to make a PT clinic successful. Shaun says that every PT owner should ask these two vital questions, which is what is your purpose, and what are the six areas every PT owner needs to address in their clinic? He says diligently working on your purpose and one to two of the key areas he notes will immediately pay dividends, but being successful and efficient in all six areas is going to guarantee success with your physical therapy practice.   Love the show? Subscribe, rate, review, and share! Here’s How » Join the Physical Therapy Owners Club today: ptoclub.com Physical Therapy Owners Club Facebook Physical Therapy Owners Club LinkedIn

Sean Miller believes that we all have the ability to essentially win in life, if we just understand the abilities and processes to be able to win in life. He says that there are successful formulas and things that we can do to be able to win. Growing up as a kid, Sean liked to take things apart to understand how they work. As he got older, he got into sports which drew his natural inclination on understanding how the body works, which started his journey into physical therapy and helped him develop physical therapy processes to get people better faster.   Love the show? Subscribe, rate, review, and share! Here’s How » Join the Physical Therapy Owners Club today: ptoclub.com Physical Therapy Owners Club Facebook Physical Therapy Owners Club LinkedIn

Will was mountain climbing with a girl he was dating when he fell 50 feet down and landed on both of his feet. He heard his legs snap immediately and put his hands out behind to brace himself, breaking his arms in the process, and ending up crumpled in a bush. He will never forget that day, Friday the 13th, 1993. All in all, small bones included, he broke over twenty bones and had eight surgeries. With both arms and legs broken and lying there in bed for hours on end, Will shares it was a dark time for him, until one day, his home health therapist arrived. Will recounts his physical therapy journey and how his therapist shifted everything and never gave up on him. The idea that physical therapy has so much more to do with connecting to an individual and improving their emotional well-being through the physical well-being was what got Will into it.   Love the show? Subscribe, rate, review, and share! Here’s How » Join the Physical Therapy Owners Club today: ptoclub.com Physical Therapy Owners Club Facebook Physical Therapy Owners Club LinkedIn

Physical therapy (PT) clinic owners are masters at creating stability and freedom for clients, but not for themselves. Sure, there’s financial stability – but when it comes to personal freedom, not much. In the pilot episode of the Physical Therapy Owners Club podcast. Nathan Shields shares advice for PT clinic owners on how to achieve true business stability and freedom. Nathan owns a PT clinic in Chandler, Arizona, and decided to open a satellite clinic after his patient list grew from 3 to 7 to 11 per week. He enjoys the social aspects of physical therapy itself, along with its immediate improvements for patients. But there was something missing: a business network tailored specifically for PT clinic owners. More often than not, PT owners saw each other as competitors. Now with the Physical Therapy Owners Club, Nathan hopes to galvanize his fellow PT owners into joining a discussion for stability and freedom. So sit back, relax. The Club is now open!   Love the show? Subscribe, rate, review, and share! Here’s How » Join the Physical Therapy Owners Club today: ptoclub.com Physical Therapy Owners Club Facebook Physical Therapy Owners Club LinkedIn